Five9, Inc. Files Q2 2024 10-Q Report

TL;DR

Five9's Q2 2024 10-Q is in - check financials for latest performance.

AI Summary

Five9, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance and position, including its business operations and any material events that occurred during the second quarter of 2024. Specific financial figures and operational highlights are presented within the report.

Why It Matters

This report provides investors and analysts with a detailed look into Five9's financial health and operational progress during the second quarter of 2024, influencing investment decisions.

Risk Assessment

Risk Level: medium — 10-Q filings are standard for public companies, but the specific financial details and any disclosed risks within this report could impact the company's stock.

Key Players & Entities

• Five9, Inc. (company) — Filer of the 10-Q report
• 20240630 (date) — End of the reporting period
• 20240808 (date) — Date of filing

FAQ

Key Financial Figures

• $0.001 — ich Registered Common stock, par value $0.001 per share FIVN The NASDAQ Global Market

Filing Documents

• fivn-20240630.htm (10-Q) — 1594KB
• a063024exhibit311.htm (EX-31.1) — 11KB
• a063024exhibit312.htm (EX-31.2) — 11KB
• a063024exhibit321.htm (EX-32.1) — 8KB
• 0001288847-24-000118.txt ( ) — 9431KB
• fivn-20240630.xsd (EX-101.SCH) — 59KB
• fivn-20240630_cal.xml (EX-101.CAL) — 106KB
• fivn-20240630_def.xml (EX-101.DEF) — 300KB
• fivn-20240630_lab.xml (EX-101.LAB) — 794KB
• fivn-20240630_pre.xml (EX-101.PRE) — 573KB
• fivn-20240630_htm.xml (XML) — 1565KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

ITEM 1. Financial Statements 4 Condensed Consolidated Balance Sheets (Unaudited) 4 Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) 5 Condensed Consolidated Statements of Stockholder' Equity (Unaudited) 6 Condensed Consolidated Statements of Cash Flows (Unaudited) 9 Notes to Condensed Consolidated Financial Statements (Unaudited) 10

Management's Discussion and Analysis of Financial Condition and Results of Operations

ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 31 Overview 31 Key Operating and Non-GAAP Financial Performance Metrics 32 Key Components of Our Results of Operations 34 Results of Operations for the Three and Six Months Ended Jun e 30 , 2024 and 2023 35 Liquidity and Capital Resources 38 Critical Accounting Policies and Estimates 40 Recent Accounting Pronouncements 40 Contractual and Other Obligations 40

Quantitative and Qualitative Disclosure about Market Risk

ITEM 3. Quantitative and Qualitative Disclosure about Market Risk 43

Controls and Procedures

ITEM 4. Controls and Procedures 44

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

ITEM 1. Legal Proceedings 45

Risk Factors

ITEM 1A. Risk Factors 45

Unregistered Sales of Equity Securities and Use of Proceeds

ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 46

Defaults Upon Senior Securities

ITEM 3. Defaults Upon Senior Securities 46

Mine Safety Disclosures

ITEM 4. Mine Safety Disclosures 47

Other Information

ITEM 5. Other Information 47

Exhibits

ITEM 6. Exhibits 48

SIGNATURES

SIGNATURES 49 1 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which involve substantial risks and uncertainties. These statements reflect the current views of our senior management with respect to our future events, strategies and financial trends and performance. These forward-looking statements include statements with respect to our business, expenses, strategies, losses, growth plans, product and client initiatives, market growth projections, and our industry. Statements that include the words "expect," "intend," "plan," "believe," "project," "forecast," "estimate," "may," "should," "anticipate" and similar statements of a future or forward-looking nature identify forward-looking statements for purposes of the federal securities laws or otherwise. Forward-looking statements address matters that involve risks and uncertainties. Accordingly, there are or will be important factors that could cause our actual results to differ materially from those indicated in these statements. These factors include the information under the caption "Risk Factors" set forth in Part 1, Item 1A, of our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and Part II, Item 1A, of this Quarterly Report, which we encourage you to carefully read, and include the following: adverse economic conditions, including the impact of macroeconomic deterioration, including continued inflation, increased interest rates, supply chain disruptions, decreased economic output and fluctuations in currency rates, the impact of the Russia-Ukraine conflict, the impact of the conflict in Israel, and other factors, may continue to harm our business; if we are unable to attract new clients or sell additional services and functionality to our existing clients, our revenue a

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

ITEM 1. Financial Statements FIVE9, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except per share data) June 30, 2024 December 31, 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 175,699 $ 143,201 Marketable investments 930,639 587,096 Accounts receivable, net 104,382 97,424 Prepaid expenses and other current assets 41,760 34,622 Deferred contract acquisition costs, net 69,622 61,711 Total current assets 1,322,102 924,054 Property and equipment, net 124,600 108,572 Operating lease right-of-use assets 34,107 38,873 Finance lease right-of-use assets 3,653 4,564 Intangible assets, net 33,027 38,323 Goodwill 227,269 227,412 Other assets 17,755 16,199 Deferred contract acquisition costs, net — less current portion 147,867 136,571 Total assets $ 1,910,380 $ 1,494,568 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 29,405 $ 24,399 Accrued and other current liabilities 76,320 62,131 Operating lease liabilities 9,509 10,731 Finance lease liabilities 1,819 1,767 Deferred revenue 65,286 68,187 Convertible senior notes 432,364 — Total current liabilities 614,703 167,215 Convertible senior notes - less current portion 730,012 742,125 Operating lease liabilities — less current portion 32,177 36,378 Finance lease liabilities — less current portion 1,949 2,877 Other long-term liabilities 5,661 7,888 Total liabilities 1,384,502 956,483 Commitments and contingencies (Note 10) Stockholders' equity: Common stock 75 73 Additional paid-in capital 951,048 942,280 Accumulated other comprehensive (loss) income ( 502 ) 582 Accumulated deficit ( 424,743 ) ( 404,850 ) Total stockholders' equity 525,878 538,085 Total liabilities and stockholders' equity $ 1,910,380 $ 1,494,568 See accompanying notes to the unaudited condensed consolidated financial statements. 4 Table of Contents FIVE9, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited, in

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